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stellios has bought no more, the offeree has taken a few more thousand which takes them toward 52%. this means currently no were near taking the company private as they need 75% of the vote on the day which is impossible based on what stellios owns.
i think he they offer him higher then they have to offer everyone more, he may want to keep or take a £1.10 or £1.25 price or more?
be interesting wha this goes up to and how keen they are to buy it outright which i would suspect they want. the overall benefit to them is bein private and managing their affairs in a completely different way. so hence an increase in offer will come, i honestly suspect towards £1.25 as the extra this will cost them against overall benefit is minimal and these guys have billions available in the bank
60 euros a night is very competitive
359 Euros for two of us, for 6 nights
How much? That’s also important in the context of what else is on offer
This has got at least £1.25 to separate these shares from the hands of stellios infact I think he will want more
Just stayed a few nights in Berlins hotel, room has bed, shower, toilet & a tv over the bed. every thing you need in a small space, but I think for an extra couple of feet in the size of the room you could get somewhere to store your clothes. It is on Rosenthaler strasse which is near to places to eat, shops, Hackecher market, train station and not far from the Brandedburg gate. All in all I think its location is perfect for a Berlin visit, with friendly staff
Given planning consent and going ahead
25,000 shares, loading up slowly
https://www.cambridgeindependent.co.uk/news/plans-for-super-budget-easyhotel-in-cambridge-recommended-for-approval-9081161/
Every month goes by and this shows value and resilience to brexit the sp could go higher. The investors will want this bought out, no loose ends, in the bag so I expect a second good offer, at least £1.10. In the scheme of things, price of sterling this is nothing to these kind of people
If stellios is buying more then I’m a hold and happy to see this further. Either they’ll collect a few more and settle or not be happy and raise offer conscious of future updates that’s come.
Stellios mentioned an sp that peaked at 1.25 and London has been completely revamped and improved. So expect £1.10 next but big hold as yet
not alot however he is still in the market and increasing his shareholding going forward. anything at 0.95 he is picking up
The number of buy outs by private equity since brexit started has increased massively. With sterling dropping and interest rates low private equity have so much money and not enough to buy. Their buying listed businesses, delisting where then regulators disappear and tax reduces for them to make a fortune. Easyhotel is one of those examples, very cheap with the price of sterling, great growth, great prospects and these guys can pick it off, make a fortune In being private where they’ll pay very little task. I’m holding all the way, private is now where all the money is made and it shouldn’t be seen always as a bad thing
I think they’ll want more. It was a low ball target to start, hoovering up shares on the market, bod amounts but 50% can’t get them the business unless they drove it into the wall and every then walked.
I don’t know the rules on equity raising in order to dilute shareholders not sure it can always be done without a vote and at what price anyway, buy new shares or increase offer and buy our shares?? Let’s hold out and see where this goes
The offer is unconditional at the same time stellios nudges his commitment and share % higher.
They have scraped through, they have taken all the directors shares nearly as of course they are in on the deal. Bar this just over 50% and unconditional is not going to get them full control. They control decisions daily, control direction but no delist at this stage and no ability at AGMs to easily win.
The rns understandably are written as they we have no choice and must accept, my suggest as stellios says HOLD at the moment and let’s see it through.
good sign and now up to 28%
Was it stellios, priced at 95p, would take him closer to his 30%
My £1000 is now quoting 96p so it’s going up, stellios is buy at 96 p also? Forcing their hand so they can’t take full control
Assume this is stellios as reports yesterday said he bought nearly 20,000
Holding all the way.
otel PLC after this process is over.
In addition, I would ask shareholders to reflect on a few key points that should help evaluate the real worth of easyHotel PLC :
The current net book value (bricks and mortar buildings and cash on the balance sheet ) is about 82p per share. (see balance sheet dated 31 March 2019 – total net assets of £119m including £30m in cash)
There is at least another 10p per share of increased value (over the above the net book cost) arising from the Old St, London freehold property, recently revealed by the company in a sale brochure.
The 95p bid completely fails to ascribe any value (over and above the bricks and mortar) to a fundamentally profitable business which is now growing very fast.
Extra value should also be ascribed to the franchised hotels side of the business which grows company earnings without the need for CAPEX and additional equity.
Investors should also note that ICAMAP paid 110p per share just 18 months ago and the stock has been as high as 128p just 15 months ago.It is therefore outrageous for ICAMAP to argue that the value of the company has gone down 14% since they made their last investment at 110p only 18 months ago when ICAMAP had just appointed Harm Meijer as an active board director. So who is ICAMAP blaming exactly for such value destruction? Or perhaps it has simply not occurred. I think ICAMAP are simply trying to “steal” this company from under the noses of other investors.
“So my message to my fellow shareholders is to do the same as me and reject the offer at 95 pence and hang on in there!”
Other points to note on the bidding process:
It is ridiculous that easyHotel PLC has revealed that their own £1.5m advisers’ costs. Who is getting that sort of money in the space of couple of short months and recommending such a “low ball” offer? In addition, there were some very suspicious stock option awards granted to various directors and executives on the eve of the ICAMAP bid well below the “low ball” offer. These need to be investigated.
i tried to buy £1000 worth and it was 95.5p so its definetly now gone over the offer mark unless someone starts to sell more. they are buying at around 94, selling at around 95.5. so no more unless they are doing side deals and far less than the 75% they need to start toking more control.
In a statement on Wednesday, Haji-Ioannou accused ICAMAP of attempting to "steal the company from under the noses of other investors".
Haji-Ioannou, who does not serve as a director, attempted to purchase more easyHotel shares this week with the intention of boosting his holding in the company to just under 30%.
He said: "My plan was to increase my stake in easyHotel PLC from the current level of just under 28% to just under 30%. However, we managed to find only 10,000 shares at 95.00p and despite bidding up to 96.00p, we found no other willing sellers at that price. We will continue to buy shares in the open market up to the limit of just under 30%."
"Clearly this purchase of a token number of shares, less than 0.01% of the share capital, was all that was available to my brokers and is evidence that there are not many sellers at 95.00p. This is proof that the real value of an easyHotel share today is well above ICAMAP’s offer," Haji-Ioannou said.
The easyHotel founder also noted that ICAMAP paid 110.00p per share when it invested in the company 18 months ago and 15 months ago, the stock was as high as 128.00p.
Haji-Ioannou said: "It is outrageous for ICAMAP to argue that the value of the company has gone down 14% since they made their last investment at 110p only 18 months ago when ICAMAP had just appointed Harm Meijer as an active easyHotel board director.
"So who is ICAMAP blaming exactly for such value destruction? Or perhaps it has simply not occurred. I think ICAMAP is simply trying to steal this company from under the noses of other investors," Haji-Ioannou added.
Once above 95 pence they can’t buy anymore on the open market as it’s higher than the offer price, therefore the hoovering up is complete no ones selling easily anymore
Hold and this will probably increase
He has bought another 10,000 shares in Easyhotel so rather than sell he is buying which is why the sp starts to go above 95.
They need stellios and unless he gets a better deal of leasing of the brand like easyJet I think he’ll hold.
easyHotel Shares are currently admitted to trading on AIM, a market operated by the London Stock Exchange. As set out in paragraph 15 below, if the Offer becomes or is declared unconditional in all respects, and Bidco has by virtue of its shareholdings and valid acceptances of the Offer, acquired or agreed to acquire, easyHotel Shares carrying 75 per cent. or more of the voting rights of easyHotel, Bidco intends to make an application to the London Stock Exchange for the cancellation of the admission to trading of the easyHotel Shares on AIM.
Going to be hard for them to take this away. They might raise more equity which dilutes however goes straight into assets not working capital
It is not critical to Ivanhoé Cambridge and ICAMAP that they own the whole of easyHotel, so they have set the acceptance condition for the Offer at only 50 per cent. of the issued share capital of easyHotel. While the Offer gives shareholders a compelling opportunity to realise their investment by accepting the Offer, the structure of the Offer may allow easyHotel to continue in its current form, depending on the level of acceptances of the Offer.
So to delist I think it would take a vote which currently they could guarantee to win at all